The Australian Securities and Investments Commission (ASIC) has announced that it has revoked the license of the Australian company Premier Wealth Management Financial Services Pty Ltd. to provide financial services.
According to the regulator, the action was taken due to failure of Premier Wealth Management to take all necessary measures to provide efficient, honest, and fair financial services, covered by the license. The company has also failed to prove that its representatives are adequately trained and competent. The company’s license will remain in effect for another year to maintain its membership of the Australian Financial Complaints Authority (AFCA).